Proximar obtains the highest rating in terms of sustainable development by the main Japanese rating agency
Japan/ Norway31st of March 2021 Proximar Seafood AShas been awarded top rating for the company's sustainability work by the recognised Japan Credit Rating Agency(JCR). "We believe that our commitment to produce salmon in a sustainable way and in proximity to the market will be our long-term advantage. It's a major recognition for our entire team that a renowned rating agency in Japanrates Proximar with the highest score possible", says Joachim Nielsen, CEO of Proximar Seafood. Highest rating Japan Credit Rating Agencyhas reviewed the "Greenness and Social Beneficial Impacts" and the "Management, Operation, and Transparency" of Proximar's sustainability framework. The highest rating "SU1(F)" was assigned. The framework meets the standards for the items required by important credit market principles such as the Green Bond Principles, the Social Bond Principles, Sustainability Bond Guidelines, the Green Loan Principles, the Green Bond Guidelines and the Green Loan and Sustainability Linked Loan Guidelines by the Japanese Ministry of the Environment. Japan Credit Rating Agency'sevaluation of Proximar states: The project is expected to bring social benefits from the following viewpoints: (1) preventing marine pollution and conserving biodiversity; (2) food security and sustainable food supply for consumers; and (3) revitalization of local industries. Increased attention Last year, Proximar Seafoodreceived the Dark Green shading by Cicero, a great acknowledgement of the project as a solution that resonates with the long-term vision of a low-carbon and climate-resilient future. "Over the past couple of years, awareness of environmental, social and corporate governance (ESG) issues have increased among Japanese consumers. Japanese financial institutions are becoming more concerned about ESG in their debt portfolio and internal decision processes. The focus on details is immense and using a reputable Japanese rating agency is important for these institutions going forward," says Joachim Nielsen, CEO of Proximar Seafood. "Proximar's vision is to be a leading provider of sustainably produced seafood and contribute to feed a growing population with proteins. Although the core business of land-based salmon farming avoids many environmental issues related to traditional seafood production, addressing the remaining environmental challenges is at the top of our agenda," says Vivian Lunde, Director ESG and Business Operations. The JCR report will be presented in both Japanese and English and will be made available on www.proximar.com Proximar's production Proximar's land-based production takes place in a fully closed environment with minimal environmental footprint, both locally and globally, securing a sustainable and safe product. This type of facility ensures high quality production and stable harvest volumes all-year round, ensuring better feed efficiency due to faster growth and lower mortality. The facility will make minimal use of water, electricity and additives, with 99.7 per cent of water recycled, efficiently reducing freshwater consumption and wastewater volume. Proximity to the market eliminates the need for air freight and enables an unparalleled product freshness. For more information, please contact: Joachim Nielsen, CEO, +47 92 85 55 59, [email protected] Pål K. Grimsrud, CFO, +47 99 47 75 99, [email protected] Vivian Lunde, Director ESG and Business Operations, +47 95 26 12 07, [email protected] About Proximar Seafood Proximar Seafoodis a Norwegian land-based salmon farming company with its first production facility under construction at the foot of Mount Fujiin Japan. Through land-based fish farming, the company will serve the Japanese market with fresh Atlantic Salmon, harvested the same day. Proximar's location, in one of the world's most important fish markets, implies significant advantages, both in terms of reduced cost and carbon footprint.
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